Elka kabeli realised in 2004. the sales revenue in the amount of €53,7m, i.e. five percent less than in the previous year.

At the same time, the company has restructured its balance sheet for the purpose of reducing the stocks expenses.

Half of the sales revenue has been realised at the foreign markets, i.e., in relation to 2003., the export of Elka kabeli indicates a rise of no less than 31 percent. The largest share in the total export, 60 percent, was realised at the EU market, mainly at the Great Britain market. The further 33 percent of the export was realised in the countries of the region, and 7 percent at the other markets, like Russia and Switzerland .

The high raw material prices have affected the entire cable industry market, and specially the European one.

According to the President of the Elka kabeli Management, Mr. Marijan Pejcic , in 2004. the copper price went up for more than 30 percent, and the aluminium for more than 10 percent.

“As we are talking here about our basic raw material, which participate with 50 to 55 percent in our total expenses, it has affected our entire business operations. On the other hand, due to the increased competition at the home market, and the transformations in the Croatian public companies, the demand for Elka’s cables declined by the middle of the year. A significant problem is also a disproportionate, uncoordinated and uncontrolled cable import from all around the world, at the prices which are often below the actual price of the material itself. However, Elka kabeli is still dominant at the domestic cable market” – explains Mr. M. Pejcic.

The productivity of Elka kabeli was also increased in the previous year, so that the revenue per permanently employed worker amounted to €110.621, i.e. a nine percent rise was indicated in relation to 2003.

In 2004. the company had invested €2,8m in different projects connected with the improvement and the modernisation of the business operations, and the largest amount, €1,06m, was spent on the informatics, i.e. the implementation of the integrated business information SAP system.

Mr. Marijan Pejcic announces that in 2005. the business operations of Elka kabeli will be concentrated at the profit oriented business operations, in terms of a further export increase and a more aggressive presentation at the home market.